Lingerie Industry

Global Underwear Underwear Market Report 2012 February 2012

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Global Underwear Market Report 2012 February 2012

Publication Date February 2012 Language English Format PDF & PowerPoint Number of Pages/Charts 155 Covered Countries USA, Colombia, UK, Germany Germany,, France, Denmark, Italy Italy,, Netherlands, Poland, Russia, Spain, Japan, China, India, South Korea, Saudi Arabia, UAE, Australia Price Single User License:

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Global Underwear Market Report 2012 Key Findings Covering 18 countries worldwide •

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In terms of lingere spending, “EU 27” was the leading region worldwide in 2010, followed by USA, Russia and China. In the USA, the market for ladies’ underwear grew by one t hird from 2004 to 2010, while it only increased by approximately 10% for male underwear in the same period. Among European countries, France was the country with the highest spending on lingerie in 2010, followed by Germany, the UK and Italy. More than 40% of Chinese underwear customers are aged 25-44, an age group expecting higher income in the ongoing Chinese economic boost. Furthermore, the South Korean lingerie market is still controlled by local brands in 2011, but international brands are gaining market share. The global underwear market is dominated by manufacturers who also sell their products to consumers. HanesBrands, Calida, Hunkemöller and Triumph are among the successful competitors. Players who showed a weak performance in this dynamic market were Austrian underwear specialist Palmers and La Senza UK.

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Global Underwear Market Report 2012 Table of Contents (1 of 3) 1. MANAGEMENT SUMMARY

2. GLOBAL MARKET TRENDS (cont.)

2. GLOBAL MARKET TRENDS

2.4 Regional: Europe

2.1 Regional: Global

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EUR billion, 2008 (12 Countries), 2009

Breakdown of the Global Lingerie Spending by

(10 Countries) and 2010 (5 Countries)

Regions, in %, 2010 •

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in EUR, 2008 (12 Countries), 2009 (3 Countries) and 2010 (7 Countries)

Trends in the Top Countries USA, UK, Germany,

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OverviewofBodywearDemand,inEURmillion, 2010 and CAGR in Demand, in %, 2006-2010

France & Japan, 2010-2011 •

Annual Per Capita Bodywear Spending by Country andEUAverage,rankedbymostrecentSpending,

Global Lingerie Spending by Regions and major Markets, in EUR billion, 2010

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Bodywear Consumption by 14 selected Countries, in

Shapewear Market Trends, 2011

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Bodywear Market Segmentation, 2010

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Bodywear Trends, 2010-2012

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Lingerie Market with Spending by Country and

2.2 USA (Top Country)

SpendingonLingerieinthevelargestEuropean Markets, in EUR billion, 2010

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Underwear Market Figures, in USD billion and

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Trends in Men buying Lingerie, 2011/2012

% Change, 2004 & 2010

2.5 UK (Top Country) •

Market Volumes for Intimate Apparel, Hosiery and •

Male Underwear, in USD billion, 2008 & 2009 •

in %, 2010-2011 •

New Product Trends and Growth of Shapewear,

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Bra and Panty Sales Growth, in %, three Months

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Bodywear Trends, 2009/2010

ending February 2011

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Luxury Lingerie Market Trends, 2011

Lingerie Spending Trends, in EUR billion and

2.6 Germany (Top Country) •

2010

Bodywear Trends and per Capita Spending on Bodywear, in EUR 2008 & 2009

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Loungewear Trends, 2012/2013

Underwear Sales Trends and Breakdown of Foundations Sales by Product, in %, 2010

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Bra Consumer Preferences and Importance of Bra Attributes by Women in Germany, in %, 2011

2.3 Colombia •

Underwear Sector Market Volume in GBP bil. and Growth, in %, 2009-2010

Intimate Apparel Sales Cycle Trends, 2010/2011 and

Breakdown of Categories in Lingerie Spending, in %,

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Underwear Market Trends and Age Distribution of UK Women who had Bra Fittings, in %, 2010

Long Leg Briefs and Tights, in %, 2010 •

Retail Trends and Changes in Lingerie Retail Sales,

Underwear Market Trends and Breakdown of Clothing SpendingbySegment,inCOPbil.andin%,2010


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Shapewear Trends, 2011

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Nightwear Market Trends in 2011 and Nightwear

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Global Underwear Market Report 2012 Table of Contents (2 of 3) 2. GLOBAL MARKET TRENDS (cont.)

2. GLOBAL MARKET TRENDS (cont.)

2.7 France (Top Country)

2.15 Japan (Top Country)

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Lingerie Trends, 2011/2012

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Breakdown of Clothing Categories bought by Women,

Swimwear Market Value, in JPY billion and in %, 2010

in %, 2010 •

Breakdown of Market Growth in different Bodywear

2.8 Denmark

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Shapewear Trends, 2011

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Fat-burning Underwear Trends, 2011

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Bodywear Trends, 2010

BodywearTrendsandAverageAmountspenton

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Women’s Underwear Market Trends, 2011

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Underwear Market Values, in RMB billion, 2011 & 2016f

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Bodywear Trends, 2010

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Forecast of Bodywear Trends, 2011/2012

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BreakdownofBraStylesasfavoredbyDutch

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Bodywear Trends, 2010/2011

Hosiery Market Trends, 2011

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MarketRevenue,inEURmillion,2004&2009

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Lingerie Market Trends, 2011-2012

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Lingerie Market with Market Volume, in EUR billion, 2010

2.12 Russia

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Lingerie Market Value, in INR billion, 2009 & 2014f

Underwear Market Trends, 2010-2012 and Underwear Price Segment Growth, in %, 2012f Underwear Market Volume, in EUR billion, 2008-2012f

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2.17 India

2.11 Poland

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Men’sUnderwearMarketRevenues,inRMBbillion, 2007-2010

Women, in %, 2010

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Women’s Underwear Market Sales, in RMB billion and Annual Growth in %, 2011f-2015f

2.10 Netherlands •

Underwear and Lingerie Market with Market Volume, in EUR, 2010 & 2011

Bodywear per Person in Italy, in EUR, 2010

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Women’s Underwear, Nightwear and Swimwear

2.16 China

2.9 Italy •

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Market Value, in JPY billion, 2009 & 2010

Segments, in %, 2010

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Women’s and Men’s Underwear, Nightwear and

ChangesinLingerieShoppingBehavior,2011

2.18 South Korea •

Lingerie Market Trends, 2010-2012

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Lingerie Market Volume, in KRW trillion, 2009-2010

2.19 Regional: Middle East 2.13 Spain •


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Lingerie Trends, 2011

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Lingerie Market & Lingerie Spending in Middle East & other Regions Worldwide, in EUR bil., 2010

2.14 Regional: Asia •

2.20 Saudi Arabia

Lingerie Spending in Asia and other Regions Worldwide, in EUR billion, 2010


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Personnel Trends in Lingerie Shops, 2011/2012

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Global Underwear Market Report 2012 Table of Contents (3 of 3) 2. GLOBAL MARKET TRENDS (cont.)

3. GLOBAL UNDERWEAR PLAYERS (cont.)

2.21 UAE

3.3 Major Underwear Player Profles

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Germany & Austria, 2011

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OverviewofRetailChains,DepartmentStoresand

3.4 Other Underwear Player Profles

Lingerie Trends, 2011

2.22 Australia •

Intimate Apparel Trends, 2010/2011

3. GLOBAL UNDERWEAR PLAYERS 3.1 List of Players by Business Type in the EU •

OverviewofRetailChains,DepartmentStoresand Home-/Online-ShoppingintheBodywearSegmentin the UK, Ireland & Belgium, 2011

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OverviewofRetailChains,DepartmentStoresand Home-/Online-ShoppingintheBodywearSegmentin

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Home-/Online-ShoppingintheBodywearSegmentin the Netherlands, Sweden & Denmark, 2011 •

OverviewofRetailChains,DepartmentStoresand Home-/Online-ShoppingintheBodywearSegmentin France, Italy & Spain, 2011

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OverviewofRetailChains,DepartmentStoresand Home-/Online-ShoppingintheBodywearSegmentin Poland,Slovenia&Hungary,2011

3.2 Department Stores and Clothing Retailers •

Debenhams:LingerieDevelopmentwithin Department Stores and Retailers, 2011

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Marks&Spencer:LingerieDevelopmentwithin Department Stores and Retailers, 2011

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Karstadt:LingerieDevelopmentwithinDepartment Stores and Retailers, 2011/2012

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Esprit:LingerieDevelopmentwithinDepartment Stores and Retailers, 2011/2012

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OneStopPlus:LingerieDevelopmentwithin

• • • • • • • • • • • • • • • • • • • • • • • • • • •

Major Underwear Market Players, by Country, 2012 BaciLingerie:Prole Calida:Prole Chantelle:Prole Etam:Prole Gunze:Prole HanesBrands:Prole Hunkemöller:Prole LaSenza:Prole Lindex:Prole MaidenformBrands:Prole Palmers:Prole Triumph:Prole Victoria’sSecret:Prole Wacoal:Prole Warnaco:Prole Wolford:Prole

AgentProvocateur:Prole ArcteFashionBrands:Prole Ayyildiz:Prole ConceptClub:Prole Embry:Prole Esotiq&Henderson:Prole Falke:Prole FashionBox:Prole Frederick’sofHollywood:Prole Gossard:Prole HopeLingerie:Prole Intimacy:Prole Intimissimi:Prole KomTekstil:Prole LaPerla:Prole LaVieenRose:Prole LovableLingerie:Prole Oysho:Prole Parijanka:Prole Pompea:Prole Schiesser:Prole Slenderella:Prole Sunset:Prole VandeVelde:Prole Women’sSecret:Prole Yamamay:Prole ZekiTriko:Prole

Department Stores and Retailers, 2011/2012


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Global Underwear Market Report 2012 Samples RESEARCH ON INTERNATIONAL MARKETS We deliver the facts – you make the decisions

67% of Internet lingerie retailers in the UK experienced an increase in sales in 2011 as compared to 2010. UK: Retail Trends and Changes in Lingerie Retail Sales, in %, 2010-2011 

Despite lingerie being a fit-oriented product, Internet sales have been on the rise.

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67% of lingerie Internet retailers in the UK stated that their sales had increased in 2011 as compared to 2010, while 33% reported steady sales and no Internet retailer of lingerie experienced decreasing sales.

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26% of large retailers, including multiples and department stores, reported an increase in sales in 2011, while 60% faced stagnation and 14% had decreasing sales.

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In 2011, Lingerie retailers were affected by low consumer conf idence and spending. Further concerns were the UK VAT increase and price increases from brands.

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75% 67%

In comparison, only 35% of independent retailers stated that their sales were bet ter in 2011 t han in 2010. A furt her 19% reported stagnating figures, while 46% had faced decreasing sales.

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Changes in Lingerie Retail Sales, in %, 2010-2011

60%

50%

46%

35%

33%

26% 25%

19%

Still, 40% of Internet lingerie retailers lowered their prices in 2011, f ollowed by 29% of large retailers and only 6% of independent retailers. Online lingerie retailers are the group of lingerie retailers that is most optimistic about 2012, followed by independent retailers and with large retailers as the most pessimistic.

14%

0%

0%

Internet Retailers

I n order t o improve their business, lingerie retailers develop websites, change their brand mix or add new product sectors.

Independent Retailers

Increase

Stagnation

Large Retailers

Decrease

Note: based on a LingerieBuyersurveyconductedin thelinge rie industryin November 2011 Source: Lingerie Buyer, January 2012

35

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In 2011, HanesBrands continued to grow and was set to reach worldwide net sales of USD 4.9 to 5.0 billion (EUR 3.6 billion). HanesBrands: Profile Name of Company

HanesBrands Inc.

Country of Origin

USA

Main Homepage

www.hanesbrands.com

Vertical Integration

Retailer, Manufacturer, Intermediary

Business Model

Multi-Channel, Multi-Brand Retailer •

Positioning: Medium-Pricing

•

Main Product Range: Women’s, Men’s and Kid’s Underwear, Socks, Hosiery, Casualwear and Activewear

Revenue/ Financials

• •

USD 4.3 billion (EUR 3.3 billion) in 2010 The net sales guidance for 2011 was confirmed at USD 4.9 to 5.0 billion (EUR 3.6 billion)

Main Countries

USA, Canada

Positioning/ Product Range

News

• • •

HanesBrands employs more than 55,500 employees in over 25 countries worldwide as of 2011. Owned brands selling underwear include Hanes, Playtex, Bali, Just My Size, Barely There, and Wonderbr a. US market share grew by 11% in 2010 compared to 2009.

• • •

Worldwide growth (excluding the US) rose by 16% in 2010. Price increases were applied internationally in or der to counteract rising costs in 2011. Despite increases in price, the sale of men’s underwear grew by 10% in the third quarter of 2011. Int imate apparel did not perform as well, experiencing a decline. In the fiscal year ending January 1, 2011, innerwear accounted for 46.5% of net sales, while hosiery accounted for 3.9%. The US accounted for 88.3% of net sales in the year ending January 1, 2011, followed by Canada with 3.3%.

• •

Source:Company homepages,businessreports, businessand companydatabases,journals,companyregistr ies,newsportals,industr yand tradeassocia tions

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Global Underwear Market Report 2012 Terms and Conditions 1. SCOPE 1.1 The following terms and conditions apply to our entire contract (the “Contract”) between yStats.com GmbH & Co. KG (hereinafter also referred to as “we” or “us”) with our customers regarding(i)researchservices,(ii)thepurchaseofreports,and(iii)anyothercontracts between us and our customers executed by reference to these terms and conditions (any reportsandotherservicesandproductswhichwemaymakeavailabletothecustomerunder a Contract hereinafter the “Products”). 1.2 Any terms and conditions of our customers are hereby expressly rejected. Agreements contrarytothesetermsandconditionsrequireourwrittenconrmation.Incaseofdeviations betweenthesetermsandconditionsandthecontentsoftheOrderForms,thecontentsof theOrderFormshallprevail. 2. OFFERS, ORDERS 2.1 Withrespecttoresearchservices,weusuallysubmitanoffertothecustomerintheformof a“ResearchOrderForm”accompaniedwithaproposalstatingthenatureoftheissuetobe researched,theservicestoberendered,thetimerequiredforthestudyandthefeedue. 2.2 With respect to the purchase of reports, we usually submit an offer to the customer in the formofa“ReportOrderForm”accompaniedwithproductbrochurestatingthecontentsof the report and the fee due. In this respect, our customers may chose between two types of Products, namely (i) our Product “Market Reports” and (ii) our Product “Full Access Global E-Commerce Reports”. 2.3 If a customer orders our Product “Market Reports”, the customer gets access to the ordered reportasidentiedintheReportOrderFormandthecustomermayusethatreportinaccor dancewithSection4.3belowandtheotherprovisionsoftheContract. 2.4 If a customer orders our Product “Full Access Global E-Commerce Reports”, the customer getsaccesstoanystandardreports(fortheavoidanceofdoubtexcludingreportspublished inconnectionwithanyresearchservices)focussedonthe“Internet&E-Commerce”industry asgenerallypublishedbyusduringthetwelve(12)monthspriortotheexecutionofthe Contractandduringthesubscriptiontermasidentiedinthe“ReportOrderForm”asofthe date of the execution of the Contract (i.e. one, two or three years), and the customer may use those reports as a “Global Site License” in accordance with Section 4.3 below and the otherprovisionsoftheContract. 2.5 Unless expressly agreed otherwise in writing, the contents of our offers may not be made availableinwholeorinparttoanythirdpartyoutsidetheorganizationofthecustomer without our prior written consent. 2.6 Ouroffersarenotbindingandsubjecttochangewithoutnoticeuntilacceptancebythe customer.Ourorderswillbecomelegallybindinguponacceptancebythecustomer.Avalid acceptancerequirestheexecutionofour“ResearchOrderForm”orour“ReportOrderForm” respectively(eachsuchdocumenthereinafterthe“OrderForm”)byadulyauthorizedrepre sentativeofthecustomerandthesubmissionoftheOrderFormtousviafacsimileoremail withpdf-attachment.Wewillprovidethecustomerwiththeaccessdatarequiredtoaccess the ordered Product(s) with two (2) days as of the execution of the Contract. 3. TERMS OF PAYMENT 3.1 ThecontractuallynegotiatedpricesaretobederivedexclusivelyfromtheOrderFormand/or the documents referenced therein. 3.2 All prices are net and without transportation costs, if applicable. Value Added Tax, if applicable, at the statutory rate shall be added to all fees payable hereunder. 3.3 Wemaydemandanadditionalfeeforservicesthatgobeyondthescopeasagreedunderthe OrderFormincasesuchadditionalProductsarerequestedbythecustomer. 3.4 WewillsendourinvoicetothecustomeruponexecutionoftheContract,unlessagreed otherwiseintheOrderForm.IntheeventthatthecustomerordersourProduct“FullAccess GlobalE-CommerceReports”,wewillsendourinvoicefortherstcontractyearuponexe cutionoftheContractandtheinvoice(s)foranysubsequentcontractyear(s),ifany,upon commencementofanysubsequentcontractyear. 3.5 All payments shall be due and payable within thirty (30) days following the date of our invoicewithoutanydeductions.Thecustomerwillbeindefaultonedayaftertheexpirydate withoutanyfurtherwarningnoticebeingrequired. 3.6 All customers‘ rights of retention or set-off are hereby excluded to the extent that they are not based on the same contractual relationship. Retentions or set-offs are allowed only if the customer‘s claim is nondisputed or has become unappeasable. 3.7 Intheeventofacustomer‘sdefaultinpaymentorotherapparentcreditunworthiness,all remaining claims against that customer shall become immediately due and payable in full. Weshallthenbeentitledtorescindpaymenttermspreviouslyagreeduponandtodemand paymentinadvanceorotherappropriatesecuritywithrespecttopendingdeliveries.A customershallbedeemedunworthyofcreditinparticularwhenhelesapetitioninbankruptcy or composition proceedings. 4. INTELLECTUAL PROPERTY RIGHTS AND INDEMNITIES 4.1 All copyrights and other intellectual property rights in connection with our Products remain with us. All data carriers remain our property. The customer may not modify, publish, transmit,transferorsell,reproduce,createderivativeworksfrom,distribute,perform,display,or inanywayexploitanyoftheProductsmadeavailablebyus,inwholeorinpart,exceptas expressly permitted under the Contract. 4.2 UpondeliveryoftheProductstothecustomerandpaymentoftheagreedfee,thecustomer obtainsanon-exclusive,non-transferable,perpetual,worldwiderighttousetheProducts providedtothecustomerforitsinternalpurposesoranyadditionalpurposessetoutinthe OrderForm.ArighttoresellourProductsrequiresourpriorwrittenapproval. 4.3 Intheeventthatthepartiesagreeona“SingleUserLicense”undertheOrderForm,this meansthatonlyoneindividuallynameduserofanorganizationshallbeentitledtoaccess thereport.Intheeventthatthepartiesagreeona“SiteLicense”undertheOrderForm,this meansthatalluserswithinagivengeographicallocation(asspeciedintheOrderForm) ofanorganizationshallbeentitledtoaccessthereport.Intheeventthatthepartiesagree on a “Global Site License”, this means that all worldwide users of an organization shall be


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entitled to access the report. In both cases, the term “organization” refers to the company of thespeciccustomeronlyandexcludesanythirdpartiesincludingafliates. 4.4 We must expressly be named as the author of any data the customer processes further as contractually negotiated. 5. TECHNICAL INFORMATION 5.1 WeshallprovideourProductsinstandardizeddataformats. 5.2 The customer must ensure that he has the corresponding technical resources to make use of thesedata.Thecustomermaynotderiveanyclaimsinthisconnectionongroundsofbreach of obligation. 6. DEFECTS AS TO QUALITY 6.1 Noclaimsfordefectsastoqualityaretriggeredbyinsignicantdiscrepanciesbetweenour productsandservicesandthewarrantedqualityortnessforuse. 6.2 Likewise,noclaimsfordefectsastoqualitymaybederivedfromentrepreneurialrisks– e.g.,withregardtoquestionsofentrepreneurialdiscretion,anerroneousassessmentofthe market situation or the failure to recognize a business action’s merit. 6.3 Defect-basedclaimsarefurtherexcludedincasesofexcessiveorimproperuseorinconnec tionwithdamagescausedbyextraordinaryconditionsnotreectedintheOrderForm.This isalsotrueincasesofsubsequentchangesmadebythecustomersorthirdpartiesunless suchchangesdonotaffecttheanalysisandremovalofagivendefect. 6.4 Claimsfordefectsastoqualityexpirewithinoneyearfromthecommencementofthelegal statute of limitation. This limitation does not apply to the extent that applicable law stipulates a longer period in cases of intentional or grossly negligent breaches of duty on the part of us, fraudulent concealment of a defect and injuries to life, body and health. 6.5 Claims for damages and the reimbursement of expenditures are further subject to Section 8. 7. LEGAL DEFECTS 7.1 Weareliableforproductsandservicesinfringingonthird-partyrightsonlyifandtothe extentthatourproductsandservicesareusedinaccordancewiththeagreedcontractual requirements. 7.2 Unless agreed otherwise, our liability for the infringement on third-party rights is limited to the territory of the European Union and the European Economic Area as well as the place of itsservices’properuseasagreedundertheapplicableOrder. 7.3 Intheeventthatathirdpartyassertsclaimsagainstthecustomer,allegingthataservice performedbyusviolatesitsrights,thecustomershallpromptlynotifyus.Ifaservice renderedbyusviolatesthirdpartyrights,weshallchooseoneofthebelowactions,duly taking into consideration the customer’s interests: a)procuringforthecustomertherighttousetheservice; b)revisingtheservicetorenderitfreeoflegalviolations;or c) withdrawingtheserviceandrefundingtothecustomeranyrelatedcompensationpaid, asadjustedbyanadequateuserfee,ifwecannoteffectanotherremedyatareasonable expense. 7.4 Uponourrequest,theCustomershallassistuswiththedefenseagainstclaimsaccordingto this section 7, with us reimbursing the Customer for any expenditures and costs incurred as a result, although each of the Parties bears the costs of the use of its own personnel. 7.5 Claims the Customer may hold for legal defects expire in accordance with Section 6.4. 7.6 Claims for damages and the reimbursement of expenditures are further subject to Section 8. 8. LIABILITY 8.1 In cases of intentional misconduct and gross negligence, we are fully liable pursuant to applicable law. 8.2 Ourliabilityincasesofsimplenegligenceislimitedasfollows:weareliableonlyifandto theextentthatweviolatedamaterialcontractualobligation(cardinalobligation)–i.e.,an obligationthat(i)theCustomerreasonablyrelieduponatexecutionoftheapplicableOrder Formand(ii)wasofcriticalsignicancetotheoutcomeofperformance.Asregardsproperty damageandnancialloss,suchliabilityislimitedtotypicalandforeseeabledamages;inno eventwillwebeliableforanyincidental,special,punitiveorconsequentialdamages,lossof protsorlossofdatainsuchcase. 8.3 Ourliabilityfordamagesunderwarranties(Beschaffenheitsgarantien)islimitedtoinstances in which the warranty expressly includes such liability. 8.4 Claims for the reimbursement of expenditures and other liability claims asserted by the Customer against us are subject to sections 8.1 through 8.3. 9. CONFIDENTIALITY 9.1 ThePartiesshallholdinstrictcondenceforanindeniteperiodoftimealldataand information materials of which they gain knowledge as part of a Contract, be it orally, in writingorotherwise,directlyorindirectly,providedthatsuchdataorinformationmaterials aredesignatedcondentialormustbeconsideredcondentialbasedontheirnature,and shallusethemexclusivelyaspartoftheservicescoveredbytherelevantOrder.Thisdutyof condentialityexcludesdataandinformationmaterialsthat: a)werealreadyknownoraccessibletoanythirdpartyatthetimeofdisclosure; b) oneofthepartieslegitimatelyreceivesfromathirdpartyfollowingdisclosure,andsuch thirdpartyisnotboundbyadutyofcondentialityinrelationswiththeotherParty; c) mustbedisclosedbyorderofandtoagovernmentagencyoranothercompetentthird party;and d) mustbedisclosedtolegalortaxadvisorsofthecontractualcustomerinquestionfor consulting purposes. In the cases of Sections c) and d), the parties shall (i) promptly inform each other about a givenrequestandpriortodisclosingcondentialinformation,and(ii)limitthedisclosureof condentialinformationtotheminimumrequired. 9.2 WemayusetheCustomerasareferencesolongasnocontractualdetailsaredivulged. 10. JURISDICTION, GOVERNING LAW, MISCELLANEOUS 10.1 Place of payment is Hamburg, Germany. 10.2 All disputes arising from or in connection with any Contract between the parties shall be resolvedthroughthecourtsofHamburg.GoverninglawisGermanlaw.

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